Brothers of the Dog King DOGE, wake up! Don't be fooled by the 1% drop now, but the hourly chart has shown a key sudden increase in volume, with the red bars rising. This indicates that big funds are quietly moving!

News:

Although the 24-hour liquidation data shows that short positions dominate (160,000 vs 275 dollars), please note — this precisely indicates that retail investors are in panic, while big players may be collecting chips in the opposite direction. The DOGE holdings are as high as 1.479 billion, and the funds haven't left; they're all waiting for a breeze!

Technical Analysis:

From the hourly chart, DOGE is currently fluctuating between 0.135 and 0.137; this is the watershed for bulls and bears! The upper pressure is at 0.141, with strong pressure at 0.145. The lower support looks at 0.135; if it breaks, it may go to 0.131 to find support.

The most critical point is that the RSI shows divergence in three values, indicating short-term overbought but not yet catching up in the medium term, which is a typical signal of 'washing and absorbing chips'! The MACD is also brewing a golden cross near the zero axis. Once it breaks through 0.141 with volume, the Dog King may take off!

Personal view of Hongcai:

I believe that DOGE is consolidating at the 0.135-0.137 position to clear out the indecisive retail investors. As long as it stabilizes above 0.137 and breaks through 0.141 with volume, it could quickly surge towards the 0.145 pressure zone.

What should you do if you're playing DOGE?

If you are already trapped, don't cut losses at the support level; wait for a rebound to reduce your position near 0.141. If you want to get in, you can try to go long with a light position in the 0.135-0.137 range, setting a stop loss below 0.131.

Remember: The Dog King's market comes quickly and leaves just as fast, so always use a stop loss and don't be greedy!